IDBI Bank Amrit Mahotsav deposits

IDBI Bank, a private sector lender, has announced revised interest rates for fixed deposits (FDs) under ₹2 crore, effective from April 1st, 2023. The bank has launched the “Amrit Mahotsav FD” scheme, offering attractive returns for both elderly individuals and the general public.

“Amrit Mahotsav FD” Scheme Details

Under the “Amrit Mahotsav FD” scheme, IDBI Bank offers different interest rates for elderly individuals and the general public. Retail investors who fall under the senior citizen category can avail a higher interest rate of 7.65%. For the general public, the bank provides an interest rate of 7.15% on their fixed deposits.

Revised Interest Rates for General Public and Senior Citizens

The bank guarantees interest rates on fixed deposits maturing in 7 days to 10 years. The revised interest rates for the general public range from 3.00% to 6.25%, while senior citizens can enjoy rates from 3.50% to 6.75% on their deposits.

IDBI Bank’s Updated FD Rates

The following table showcases the revised interest rates offered by IDBI Bank for fixed deposits under ₹2 crore:

Deposit Tenure (Days) General Public (%) Senior Citizens (%)
7 – 30 3.00 3.50
31 – 45 3.35 3.85
46 – 90 4.25 4.75
91 – 180 4.75 5.25
181 days – 1 year 5.00 5.50
1 year – 2 years 6.00 6.50
2 years – 3 years 6.50 7.00
3 years – 10 years 6.25 6.75

 Find More News Related to Banking

Piyush Shukla

Recent Posts

The Forgotten Story of Tamils in Moreh: How Manipur Border Town Became Home to Tamil Diaspora

A brief yet poignant scene in the hit series Family Man 3 has opened a…

1 min ago

Which Country is Known as the Land of Festivals?

India is often called the Land of Festivals because it celebrates countless festivals throughout the…

1 hour ago

Simone Tata: The Visionary Behind Lakmé and Westside Passes Away at 95

Simone Tata, a transformative figure in India’s business landscape and the step-mother of Ratan Tata,…

3 hours ago

When was IndiGo Airlines Founded and Who Founded It?

IndiGo Airlines is one of India’s most popular and trusted airlines. It is known for…

3 hours ago

Which Country is Known as Deutschland?

Many countries have different names in different languages. One such country is Germany, which is…

3 hours ago

Which River is Known as the Lifeline of Northeast India?

Northeast India is a region full of beautiful landscapes, green forests and rich culture. A…

3 hours ago